All of the PACE programs in Florida handle the applications from property owners and determine whether the applicants are eligible. For instance, homeowners cannot have more than one late mortgage payment or tax payment and they must have a certain amount of equity in their home. The programs also connect property owners with approved contractors, and PACE administrators typically do not sign off until final permits are issued.

Florida PACE Funding Agency

» Participating Local Governments: Kissimmee, Flagler County, Nassau County

» Administrator: SAIC Energy, Environment and Infrastructure

» Financing: Says it has secured $500 million from Samas Capital.

The agency has the authority to issue $2 billion in bonds for funding PACE projects.

» How It Makes Money: Charges a $50 application fee to contractors for registering in the program. Contractors also pay a 2% fee for each job financed through PACE. Property owners are charged closing fees to recoup administrative costs. Plus, it charges fees to cover their administrative costs, such as an application processing fee and filing fees, which could add up to $430 for a $10,000 loan.

» Interest Rates: Calculated at the time of the assessment and tied to Treasury bills. In late August, that meant a range from 5.5% to just under 8% depending on the loan term.

» Loan Terms: 5, 10, 15, 20 and 25 years

» Annual Payment of a $10,000 Loan Paid over 20 Years: $989.53

» Noteworthy: The agency is currently not accepting applications as it waits for Samas Capital to provide the financing.

» Financing: A news release issued in September says for all of its state programs it is backed by “a range of local and international financial partners, including a large revolving credit line from Macquarie Bank.”

» How It Makes Money: Contractors are changed a 3% fee for each job financed through PACE and recoups administrative costs through various fees. Ygrene also makes money from the interest rate spread between what property owners pay and its bond sales.

» Interest Rates: Linked to the 30-day LIBOR. One day in late August, that meant a variation between 4.95% for a five-year term and 6.95% for a 20-year term.

» Loan Terms: 5, 10 and 20 years

» Annual Payment of a $10,000 Loan Paid over 20 Years: $940.26

» Noteworthy: Ygrene plans to securitize the payment streams and offer the bonds to investors.

» Financing: EcoCity Partners will not be providing capital. Instead, the firm will offer a preferred list of lenders but says it will work with any financier. Some of the providers on its list include Clean Fund, PNC Bank and Wells Fargo.

» How It Makes Money: A 2.5% fee charged at closing, as well as a 1% of the PACE assessment fee for administrative and legal expenses.

» Interest Rates: Varies by capital provider, from 4% to 7%

» Loan Terms: Unknown

» Annual Payment of a $10,000 Loan Paid over 20 Years: $957.39

» Noteworthy: Recently, EcoCity Partners began advocating for a PACE leasing model that would make solar energy improvements more affordable.